Bank of Baroda has introduced special loan facilities for women entrepreneurs, including the Baroda Mahila Swavalamban Yojana and Baroda Smart OD. The Baroda Mahila Swavalamban Yojana offers loans ranging from ₹20 lakh to ₹7.5 crore with relaxed margin norms, collateral requirements, and discounts on processing fees. The scheme is designed to promote sustainable economic growth and offers simple and seamless access to capital. The Baroda Smart OD scheme provides short-term working capital to GST-registered individual/proprietorship current account holders of the bank, with an overdraft amount ranging from ₹0.50 lakh to ₹25 lakh and a tenure of 12 months.
The bank’s Executive Director, Lal Singh, stated that the bank is committed to meeting the credit needs of MSMEs and strengthening key business sectors such as women-led businesses and young entrepreneurs. The launch of these schemes aligns with the government’s efforts to create an inclusive financial system. The schemes are designed to promote economic growth and offer easy access to capital, making them a great opportunity for women entrepreneurs to grow their businesses.